In 2019, Chengdu Kinna Pharmaceutical further acquired an additional 30% of Sichuan Longlife from the Chengdu Kinna Investment at a purchase consideration of RMB 15.7 million ($2.9 million).
Pharmesis International and its wholly-owned subsidiary, Chengdu Kinna Pharmaceutical, has entered into a sale and purchase agreement with Chengdu Kinna Investment, to acquire the remaining 19% equity interest in Sichuan Longlife Pharmaceutical.
Prior to the proposed acquisition, Sichuan Longlife has been a subsidiary of the group, with a 51% equity interest owned by Chengdu Kinna Pharmaceutical since the group’s initial public offering in 2004.
